Do you also sometimes find it difficult to follow the rate of fluctuation of cryptocurrency rates? Have you missed an opportunity to make money because you were not in the stock market at the right time? This has happened to everyone, because true success in trading requires constant presence, attention, and quick decision-making. But you can replace yourself with smart software, right?
What is a sniper bot?
Just don’t think it’s actually shooting anyone — it’s just a very peaceful and useful trading automation tool. This type of bot got its military name precisely for the speed of decision-making and the accuracy of operations. The main idea is to perform the most important work for you: to buy or sell cryptocurrency in the right amount and under the right conditions. Since the cryptocurrency market is characterized by high volatility, such software becomes an ideal assistant that works 24/7 even without your participation.
In addition to working quickly within the framework of the created scenario, the sniper bot gives another advantage related to the speed of reaction. We are talking about making deals and buying crypto-assets not just on time, but earlier than competitors. After all, on any exchange there are “hunters” for the best offers, who specially wait for the opening of trades or tirelessly check offers from others. So since the software takes literally a fraction of a second to make a decision and execute the operation, the bot will always win such a race against the average human.
The main characteristics of the sniper bot
The sniper bot is a variation of the crypto trading bot, but it is separated into a separate species based on four main features:
- Reaction speed. The calculation is in milliseconds (1 millisecond = 0.001 second), otherwise the main advantage may be lost;
- Level of automation. This is the ability to work on the basis of defined rules. For simple solutions, it is just a set of algorithms, for complex ones — conclusions based on analysis using neural networks;
- Precision. This is the bot’s ability to perform assigned tasks with maximum efficiency and adherence to price points in transactions;
- Sequence. Unlike a person, a bot does not act under the influence of emotions. However, the software must work consistently and not allow errors that may occur in the process.
In fact, prototypes of sniper bots appeared even before the advent of blockchain and successfully worked on traditional exchanges. However, it was the growth of decentralized networks that finally shaped the requirements for modern snipers. Now their key feature has become the possibility of direct interaction with the blockchain in real time, which determines all the characteristics listed above.
Technical features of the sniper bot
Like any other solution, the sniper bot is a separate application with a list of APIs, which include integrations with crypto exchanges, blockchain nodes, helpers and microservices. Important for the sniper bot is the choice of a server for hosting, which must meet the requirements of speed and security. Usually such solutions are hosted on AWS, Azure, GCS or Digital Ocean and this is a good solution. However, for increased security and full control, hosting on the Raspberry PI platform is possible.
Since the main characteristic of a sniper bot is the speed of work, there is a myth about the choice of programming language for its creation. Customers unconsciously choose Rust or NodeJS and are skeptical of any other options. The logic is clear: fast code should ensure fast work. However, the experience of the BeFund developers points to other aspects of the issue, namely the ability for high-load work and significant calculations, the possibility for scaling and integrations or the application of machine learning. Without these qualities, speed itself is not enough, because the solution will work quickly, but not accurately. Therefore, in our opinion, the best language for developing sniper bots is Python, where you can find the optimal balance between acceptable speed and high performance.
Sniper bot interface
Its accessibility also plays a big role in controlling the sniper bot. A conventional solution, i.e. a dashboard accessed through a browser, is possible but inefficient. Today’s trend is the integration of the bot’s backend with Telegram, which solves a number of important problems at once:
- Availability — you only need to have the Telegram application and access to the Internet;
- Security — Telegram supports encrypted data exchange between the server and the user;
- Speed — the service works extremely fast thanks to the developed infrastructure. Notifications come almost instantly;
- Anonymity — in fact, you only need to specify a phone number for use, which can be changed at any time;
- Autonomy — there is no need to administer the mobile application, as Telegram itself does it;
- As a bonus, the use of the TON blockchain and WEB3-infrastructure of Telegram, which can significantly simplify, improve and reduce the cost of developing a complete solution.
Now we will not dwell in detail on all the advantages of using Telegram, which were written about in detail in previous blog articles on BeFund developments, for example here: ‘Why Telegram bot on Python? A simple explanation from BeFund‘ However, we can tell you in detail and show you everything you need in person via video conference.
How does a sniper bot shoot?
Setting up a sniper bot is a long, complex and responsible process, on which the success of its activity depends. However, it is worth noting that the result will depend on you, since the system will fulfill all programmed wishes. So your bot is the automation of your trading strategy, which can be different from all others and pursue the goals you need only.
The essence of high-frequency trading, according to the principles of which the sniper bot works, is to perform a large number of operations per unit of time. The bot is in two states: “BUY” or “SELL”, which change sequentially. At each of the stages, an algorithm for checking the established rules and circumstances on the stock exchange works and a decision is made. That is, the result of each stage is either action or no action if the situation does not meet the criteria. After that, the stage changes cyclically.
The main setting parameters are:
- Availability of crypto-assets;
- Optimal and marginal cost;
- Course trend;
- Gas consumption;
- Time line;
- Signals based on statistical information.
General settings branch out into more subtle ones, where the user can set extremely precise parameters, for example, a rate increase of 0.001%, which will become the basis for decision-making. You can assess the effectiveness of high-frequency trading extremely quickly: if the bot buys cheaper and sells more expensively, then a small profit is made almost immediately. Exactly when the bot will transfer the profit to the owner’s crypto wallet also depends on the user’s settings.
What does BeFund offer?
Today you can find many offers of trading bots, including snipers, but each ready-made solution has at least three “red flags”:
- The bot is leased and requires a subscription fee;
- You cannot be certain that data or assets are safe;
- It’s either a one-size-fits-all bot, or a narrowly focused solution incapable of scaling or fine-tuning.
Our company offers the development of a custom sniper bot taking into account all the needs, features of the trading strategy and the choice of cryptoassets. Our solution is built on Python and Solidity, which allows for almost endless expansion of functions and capabilities, involving machine learning and Artificial Intelligence. Sniper-bot is controlled via Telegram, which gives users freedom and quick notification of any changes in trading. Our team has great expertise in developing cryptobots, so we have something to please and surprise you. Let’s discuss a future project — apply the form below!
